Report says: Median price of Las Vegas home increases by 8.1 percent,

Report says: Median price of Las Vegas home increases by 8.1 percent,

If you are looking for older and more centrally located homes, look no further than Las Vegas. Although the outer edges of the homes have the most construction going on and the highest prices, the older and more centrally located homes are the best to choose.

Las Vegas’ outer edges may have the most home construction and the highest prices. But if you’re looking for the fastest-rising values, look closer to the core.

The biggest jumps in median resale prices last year tended to be in older, more centrally located areas of the valley, according to a new report from Applied Analysis’ residential research arm, SalesTraq.

West of downtown around Washington Avenue and Martin Luther King Boulevard, the 89106 ZIP code posted the fastest price growth, climbing 22.8 percent from 2015. That was followed by ZIP code 89146, around Sahara Avenue and Jones Boulevard, at 17.5 percent, and 89030, around Cheyenne Avenue and Interstate 15, at 16.3 percent.

Across the valley, the median sales price of previously owned homes rose 8.1 percent last year, SalesTraq reported. All but three ZIP codes posted increases. Two of those ZIP codes are in the central valley. The third is in the far north. read more… reviewjournal.com